Project Database

Country

Azerbaijan

Title

Support to the State Social Protection Fund on the introduction of a funded element within the insurance pension system, the establishment of non-state pension funds and the development of the legal framework for regulating their activity

Subject Area

Donor organization

EU

Start of Project

May 2014

End of Project

November 2015

Duration

18 months

Partner Organisations

Latvian Ministry of Welfare

Description of Project

General objective: Development of the pension insurance system in Azerbaijan

Specific objective: To enhance the capacity of the State Social Protection Fund (SSPF) to establish the regulatory, legal and administrative framework for the introduction of a funded element in the insurance-pension system and the establishment of non-state pension funds

The project comprises 2 components: Component I: Implementation of a funded component in the current state insurance pension.

Review and analysis of management processes and IT systems at the State Social Protection Fund (SSPF)

Elaboration of a blue print for the funded component of the multi-level state pension system

Development of the framework and technical mechanisms for accumulation and management of funds on real funded accounts

Development of the legislative framework for the funded component of the multi-level state pension system